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Progenitor Cell Therapy Expands Manufacturing Operations

Demand for manufacturing and development capacity drives PCT to open new facility

Allendale, NJ (Vocus) January 22, 2010 -- Progenitor Cell Therapy, LLC (PCT) today announced that the initial phase of its new facility construction has been completed.

The company’s new cell therapy development and manufacturing facility in Allendale, New Jersey is being built to accommodate increasing client demand for clean room and support space.

The company-owned 30,000 square-foot facility will provide clients with access to multiple clean room manufacturing suites, each with independent air-handling and laboratory systems, to support PCT’s existing and future clients with projects ranging from process/product development to phase I-II-III clinical trial, fill/finish operations and commercial product manufacturing.

The facility has been designed to be compliant with U.S. Food & Drug Administration (FDA) and European Medicines Agency (EMEA) standards for the processing of human cells for therapeutic use. The facility also provides capacity for the storage of client products in a liquid nitrogen (LN2) freezer farm with state-of-art monitoring and control capabilities.

The development of the company’s new facility is a multi-phase project. The first phase, now completed, provides for new headquarters for the company’s operations and for the initial install of the freezer farm. Subsequent phases already commenced will bring the company’s processing, manufacturing and development capabilities online during the remainder of the year.

“Progenitor Cell Therapy is proud of the work we have performed for clients over the past 11 years in what was our very first manufacturing facility in Hackensack, New Jersey. We are excited to now be moving operations into and serving our clients from our third location, a new state-of-art facility which will allow us to combine our multiple east coast operations into one facility with increased capacity and significant room for continued expansion,” says PCT President, Dr. Robert A. Preti.

“We are proud of the fact that as we simultaneously continue to upgrade and develop our facility in Mountain View, California, Progenitor Cell Therapy remains the only contract manufacturer in the United States with two facilities (one on either coast) capable of manufacturing cell therapy products on a contract basis,” adds PCT Chief Business Officer, George S. Goldberger.

About Progenitor Cell Therapy, LLC
Progenitor Cell Therapy, LLC (PCT) is a client-based company providing cell therapy service solutions for the research, development, manufacturing, and commercialization of cell-based therapies. With its cell therapy manufacturing facilities and team of experienced professionals, PCT provides current Good Manufacturing Practices (cGMP)-compliant services for pre-clinical and clinical development, manufacturing, and eventual commercialization of cellular therapies for clients throughout the world. For more information, please visit progenitorcelltherapycom.

This press release does not constitute an offer to sell, or a solicitation of any offer to buy any securities of Progenitor Cell Therapy. In addition, certain of the statements in this press release are forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research, and development activities and similar matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause the company or its industry’s actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “intend,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of such terms or other comparable terminology. Forward-looking statements are only predictions. Actual events or results may differ materially. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements. The company is under no duty to update any of the forward-looking statements after the date of this press release to conform such statements to actual results.


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